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-   -   Exclusive sale listing agreement error (https://www.thehulltruth.com/dockside-chat/704289-exclusive-sale-listing-agreement-error.html)

on deck 09-12-2015 12:17 PM

Exclusive sale listing agreement error
 
Hi real estate pros...Just a quick question. We signed an exclusive right of sale listing agreement for our condo on 4/21/15. Our condo has not sold as of yet and we are exploring other options. I was just looking at out listing contract and noticed that the realtor listed the start date as 4/24/15 and the termination date as 4/23/15. Obviously a simple mistake but could this error void our contract? I assume that the end date was supposed to be 4/23/16. There is nowhere else in the contract that lists the termination date. Thanks in advance for any input.

Schmaltz~Herring 09-12-2015 12:29 PM

"Presumably", a one day listing was not the intent of the parties, scrivenor error or in legal parlance, "brain fart".

TorFed 09-12-2015 12:44 PM

The above, especially as you allowed it to continue.

And people say the real estate agents are looking to screw people over....

Now there are ways you can legally terminate the contract, it has never happened to me, so I am not sure how, but I know it can be done.

Jus Teasin 09-12-2015 12:47 PM

I've only seen 3-6 month listing agreements. IMO, I would never sign a year long listing agreement, because in my mind, if a realtor couldn't sell my condo in 6 months, I'd be looking for some else.

triplenet 09-12-2015 12:58 PM

Scriveners Error.....

You both have been living under the agreement..... Why not just ask them to terminate ..

on deck 09-12-2015 01:05 PM

Thanks for the input. I really like our realtor and would like to to make the sale but it just isn't happening. I was surprised when I double checked the contract as well. We agreed upon a six month contract so maybe the error was meant to be 10/23/15 termination date. Either way I am going to contact him Tuesday. Thanks again.

OReely 09-12-2015 03:03 PM

Unless your property is a real dog and/or your asking for the moon and/or you don't really care if it sells or not, I couldn't imagine listing for a year. I'd do 90 days and renew if I thought the guy was doing a good job (marketing, showings, suggestions to improve chances for a sale, etc). If he wasn't working for me, I'd find someone new.

C Skip R 09-12-2015 03:12 PM

IMO I would not sign a year listing but that's up to you. When you sign an exclusive listing that eliminates other realtors wanting to show your condo since they would not receive any commission.

triplenet 09-12-2015 03:14 PM


Originally Posted by C Skip R (Post 8243675)
IMO I would not sign a year listing but that's up to you. When you sign an exclusive listing that eliminates other realtors wanting to show your condo since they would not receive any commission.

Exclusive listing doesn't mean that broker won't cooperate on commissions with a buyers broker ...

Chiliando 09-12-2015 03:54 PM


Originally Posted by C Skip R (Post 8243675)
IMO I would not sign a year listing but that's up to you. When you sign an exclusive listing that eliminates other realtors wanting to show your condo since they would not receive any commission.

You could not be more mistaken. All I sign is Exclusive right of sales and almost all my listings sell through a cooperating broker.

on deck 09-12-2015 04:11 PM

Just spoke with him and it is a 6 month listing. He has shown our condo a half dozen times to another broker and their client. He told me that he doesn't mind sharing. Really a good guy but more for houses than condos I believe.

C Skip R 09-12-2015 08:30 PM


Originally Posted by triplenet (Post 8243680)
Exclusive listing doesn't mean that broker won't cooperate on commissions with a buyers broker ...

I stand corrected.

Bruce W 09-12-2015 09:52 PM


Originally Posted by Jus Teasin (Post 8243326)
I've only seen 3-6 month listing agreements. IMO, I would never sign a year long listing agreement, because in my mind, if a realtor couldn't sell my condo in 6 months, I'd be looking for some else.

:thumbsup: - Especially on an "exclusive" basis! One YEAR? :o NOT! :nono:

Regards,.

TorFed 09-12-2015 11:15 PM


Originally Posted by on deck (Post 8243816)
Just spoke with him and it is a 6 month listing. He has shown our condo a half dozen times to another broker and their client. He told me that he doesn't mind sharing. Really a good guy but more for houses than condos I believe.

If he has shown 6 times to one person and they haven't made an offer you are likely over priced or another issue. Or he is BS'ing you. That is nearly unheard of.


Originally Posted by Bruce W (Post 8244655)
:thumbsup: - Especially on an "exclusive" basis! One YEAR? :o NOT! :nono:

Regards,.

Also, I am fairly certain many of the people posting on this don't understand what an exclusive listing means. It doesn't mean you are the only person allowed to show the property... You could have 100 agents go through there representing buyers. It only means you are the exclusive agent to represent the property owner.

Jkcam 09-13-2015 02:04 AM

Is it listed in MLS? Has the realtor had "open house"? Was the condo staged and professionally photographed? If so and it hasn't sold in 6 months you are asking too much. Sorry, but pretty much everything is $$ related.

Dwain 09-13-2015 06:01 AM

I am quite surprised the agent did an exclusive listing. Why would you not go MLS as exclusive listings do not go on the mls system for other agents and buyers to see?

Saltydawg15 09-13-2015 06:09 AM


Originally Posted by Dwain (Post 8244926)
I am quite surprised the agent did an exclusive listing. Why would you not go MLS as exclusive listings do not go on the mls system for other agents and buyers to see?

:nono:

Flot 09-13-2015 06:45 AM

People are (still) misunderstanding the Exclusive bit. An "exclusive right to sell" contract is normal for Florida, and just means is that the agent is protected in his half of the commission, no matter where a buyer comes from.

Condos can be tough to sell... don't know where you are, but down here the last 5 months have been about as good as any other time to sell in RE history. I'd look hard at your price and not your agent - if you like the guy, do him the favor of seriously re-evaluating your price now, not after the contract is up.

TorFed 09-13-2015 07:00 AM


Originally Posted by Dwain (Post 8244926)
I am quite surprised the agent did an exclusive listing. Why would you not go MLS as exclusive listings do not go on the mls system for other agents and buyers to see?

:banghead::banghead::banghead::banghead:

Everyone knows everything about real estate. :roll. What you are giving is the definition of a "pocket listing". An exclusive agency agreement without approval to put in MLS.


Originally Posted by Flot (Post 8245024)
People are (still) misunderstanding the Exclusive bit. An "exclusive right to sell" contract is normal for Florida, and just means is that the agent is protected in his half of the commission, no matter where a buyer comes from.

Condos can be tough to sell... don't know where you are, but down here the last 5 months have been about as good as any other time to sell in RE history. I'd look hard at your price and not your agent - if you like the guy, do him the favor of seriously re-evaluating your price now, not after the contract is up.

:thumbsup:

triplenet 09-13-2015 07:43 AM


Originally Posted by Flot (Post 8245024)
People are (still) misunderstanding the Exclusive bit. An "exclusive right to sell" contract is normal for Florida, and just means is that the agent is protected in his half of the commission, no matter where a buyer comes from.
.

Quick boring story;

I had an exclusive listing on a commercial property for leasing and sale ...

The owner ( unbeknownst me) Sells the property to his cousins, uncles, father a week into the listing ....

I eventually find out - he refuses to pay - file suit and after a lengthy trial I made a good chunk of change for doing absolutley nothing ... ;)


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